924,246 Shares in Thomson Reuters Co. (NYSE:TRI) Purchased by Norges Bank

Norges Bank acquired a new stake in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 924,246 shares of the business services provider's stock, valued at approximately $148,221,000. Norges Bank owned approximately 0.21% of Thomson Reuters at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in shares of Thomson Reuters during the 4th quarter worth $27,000. Atomi Financial Group Inc. increased its stake in Thomson Reuters by 16.1% in the 4th quarter. Atomi Financial Group Inc. now owns 1,819 shares of the business services provider's stock worth $292,000 after purchasing an additional 252 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Thomson Reuters by 52.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider's stock worth $185,011,000 after buying an additional 395,481 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Thomson Reuters by 26.0% in the fourth quarter. Park Avenue Securities LLC now owns 2,546 shares of the business services provider's stock worth $409,000 after buying an additional 526 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Thomson Reuters by 23.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,966 shares of the business services provider's stock valued at $958,000 after acquiring an additional 1,145 shares during the period. Institutional investors and hedge funds own 17.31% of the company's stock.

Analyst Upgrades and Downgrades

TRI has been the subject of several recent analyst reports. CIBC raised their target price on Thomson Reuters from $165.00 to $174.00 in a research report on Friday, February 7th. The Goldman Sachs Group boosted their price objective on shares of Thomson Reuters from $168.00 to $188.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Wells Fargo & Company lifted their target price on shares of Thomson Reuters from $165.00 to $177.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Canaccord Genuity Group boosted their price target on Thomson Reuters from $164.00 to $175.00 and gave the company a "hold" rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Thomson Reuters from $175.00 to $177.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $177.56.

Thomson Reuters Price Performance

Thomson Reuters stock traded down $9.93 during mid-day trading on Friday, hitting $165.98. 774,953 shares of the company were exchanged, compared to its average volume of 378,719. Thomson Reuters Co. has a 1-year low of $149.50 and a 1-year high of $180.42. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $173.30 and a 200 day moving average of $167.97. The company has a market capitalization of $74.71 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 5.67 and a beta of 0.70.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last released its quarterly earnings results on Thursday, February 6th. The business services provider reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. As a group, sell-side analysts expect that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 20th were issued a dividend of $0.595 per share. This is an increase from Thomson Reuters's previous quarterly dividend of $0.54. This represents a $2.38 annualized dividend and a yield of 1.43%. The ex-dividend date was Thursday, February 20th. Thomson Reuters's dividend payout ratio (DPR) is 48.67%.

Thomson Reuters Profile

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.